From Bloomberg.com, "MCI, WorldCom's Ebbers Settle 401K Suit for $51 Mln." According to the article, former executives of WorldCom have agreed to pay about $51 million to settle a class action suit by employees involving the 401(k) plan. The pact must be approved by U.S. District Judge Denise Cote and apparently leaves the 401(k) fund directed trustee as the only active defendant.
Read more about the lawsuit here.
Posted by B. Janell Grenier at July 6, 2004 10:44 PM